Other Briefings
More Tax Breaks Available for Foreign Experts
Oct. 22 – A new circular extends tax breaks and benefits available for foreign experts implementing projects in the country using official development assistance (ODA) effective November 20. The new rule includes relaxing visa policies for foreign experts and their family in addition to an import tax exemption on personal assets for experts residing in […]
Carlsberg Expects Sales to Surpass Market Growth
Sept. 21 – Danish beer company, Carlsberg, is forecasting that its volume growth in Vietnam will even surpass the beer industry’s expected market growth of 6 to 8 percent annually. This has led the company to sign an agreement with Vietnamese brewer Hanoi Beer & Beverage Corporation (Habeco) in anticipation of the increased volume by […]
Minimum Wage to Increase by 12.3 Percent
Sept. 3 – The government has announced that state-owned companies will be increasing monthly minimum wage by 12.3 percent to VND800,000 or US$44.63 beginning May 2010. The new measure will also include raising the pensions and special allowances for war veterans. Thanh Nien News reports that the same payment increase will be applied at local […]
Vietnamese Businesses Encouraged to Invest in Laos
Sept. 1 – Vietnamese companies are encouraged to invest in Laos to boost its socio-economic development, said President Nguyen Minh Triet during an investment promotion conference on Laos in Ho Chi Minh City yesterday. The Laotian government and HCMC People’s Committee are offering investment incentives and bank loans to further attract Vietnamese investment into its […]
Ministry of Finance Clarifies Income Tax Exemptions
Aug. 20 – Vietnam’s Ministry of Finance has released a circular clarifying the exemptions on personal income tax and taxes on gifts, inheritance and transfers of real property. Circular 160/2009/TT-BTC outlines that individuals and non-resident individuals receiving income from capital gains and royalties are exempt from personal income tax in the first half of this […]
Twenty Percent Discount on Power Costs Proposed
Aug. 11 – The Ministry of Industry and Trade has submitted a proposal that will allow businesses that operate only during the day to be qualified for a 20 percent discount on electricity costs during peak hours of the morning. Currently, business power users are charged double in the peak hours between 9:30 a.m. and […]
Foreign-Invested Firms to be Allowed to Export Rice
Aug. 10 – Following its WTO commitments, the Vietnamese government will now allow foreign-invested businesses to distribute and export rice this year, says Deputy Minister of Industry and Trade Nguyen Thanh Bien. Last week, Deputy Prime Minister Hoang Trung Hai approved the measure. Mr. Hai also added that the trade ministry should also ask the […]
Ministry of Labor Announces New Penalties for Employers
Jul. 28 – Vietnam’s Ministry of Labor, Invalids and Social Affairs has released a new draft of rules that address the mistreatment of employees. If the draft is approved, companies will be fined up to VND5 million if salaries are not paid in full or delayed without compensation. A fine of VND3 million will also […]
Largest Software Park Approves US$316.45 Million Worth of Projects
By Fan Feng Jul. 9 – The country’s largest software park and high-tech industrial area, Hoa Lac Hi-Tech Industrial Zone, has approved the investment licenses of four projects worth a total of US$316.45 million. Shipbuilder Vietnam Shipping Industrial Group invested US$85.6 million for the Vietnam Ship Research Institute to house its national research and design […]
HCMC Announces Changes to Business Registration
Jun. 30 – Beginning July 3, the process of obtaining a business registration in Ho Chi Minh City will be streamlined to become less time consuming and simpler. In the past, businesses had to apply for tax registration after registering their business with the Planning and Investment Department. The government is now accepting applications for […]
